A couple of weeks ago a friend of mine was rambling on and on to me about how JOE had the potential to be the PancakeSwap as (in his words) "the whole world transitioned into ARB"
Now, as you can obviously tell, he was fresh off the high of the ARB airdrop pumps. He argued that JOE was to ARB and many other L2s, what Pancakeswap (PCS) was to Binance Smart Chain (BSC).
But a quick look at their TVL versus their closest competitors tells a very different story. With ARB's TVL where it is, JOE has secured no more than a third of the pie. Most of the pie in fact, is being sucked up by GMX. And that's just ARB. On every L2 chain, JOE is constantly coming in second in TVL. For a DEX to win, should it not command the liquidity of the masses?
Thus with that in mind, I believe that JOE is just like its real-life counterpart (TRADER JOE), a shadow in a competitor named after a food (PancakeSwap/Whole Foods). Show Less
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